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Jan 17, 2013
01/13
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it has to be into the economy. we not only have to inducer and sent people to step on the accelerator to create more jobs. that's a matter of having to rip us from our vacations, tax incentives and so on, that has to be transmitted to the banking system. these banks are in such deep trouble in control so much of the assets have been focused on other things. they are interfering the effectiveness for accommodative monetary policy. if you get people to understand this is hurting job creation in the district come he might more political support. i believe this support is gaining ground. it's not just a question of fairness. it's a question of efficacy. and i believe it is beginning to gain ground. [inaudible] >> that's up to people on the hill and the people that want to support this effort. it takes to fix greater to that. that may mean it's not doable. i don't think so. >> thank you for being with us this evening. i'm at catcher catcher and the university of virginia and i really would like to give you the opportuni
it has to be into the economy. we not only have to inducer and sent people to step on the accelerator to create more jobs. that's a matter of having to rip us from our vacations, tax incentives and so on, that has to be transmitted to the banking system. these banks are in such deep trouble in control so much of the assets have been focused on other things. they are interfering the effectiveness for accommodative monetary policy. if you get people to understand this is hurting job creation in...
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Jan 18, 2013
01/13
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is there enough tax generated in the economy to offset that? and would disaster occurs are you on the hook for off infrastructure and everything else that may be required to rebuild that community? and asia return on that exposure -- is your return greater? as a taxpayer, the answer is unfortunately too often know. we have subsidize risks to the point where as long as no extreme event occurs, it seems okay. but when the extreme event occurs, you are now exposed to much greater costs without necessary generating revenue or other societal benefits off that risk. now, during the '70s and '80s and through the early '90s, went a lot of growth was taking place in coastal areas and other vulnerable areas, very few storms were occurring. frequency was down. so the allusion was i have lived here for 30 years, this never happens. welcome the problem with climate whether it's 30 year cycles are like an eyelash in understanding how big systems and dynamics work. not talking at any of the forcing issues, and now we find ourselves in this period of increased
is there enough tax generated in the economy to offset that? and would disaster occurs are you on the hook for off infrastructure and everything else that may be required to rebuild that community? and asia return on that exposure -- is your return greater? as a taxpayer, the answer is unfortunately too often know. we have subsidize risks to the point where as long as no extreme event occurs, it seems okay. but when the extreme event occurs, you are now exposed to much greater costs without...
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Jan 15, 2013
01/13
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economy had grown 1% less, our economy would've been the same size in 1990 as a that of mexi mexico. that 1% difference over that century created massive outcome difference. looking forward 10 years from now, if we go out 2% rather than 3% potential we will have have had $1 trillion worth of outcome which is about 10 -- in this economy. that's a very, very big deal. the growth alone is also not important. it's also growth that is inclusive. that is broadly shared and that's one of the things that brookings is devoted to the we have a project called the hamilton project wizard -- which is focused o on the issue. if over the course of the last 30 years, roughly 35 years, the average income in the united states house hold have grown at the same rate of you succumb, 26% for the household growth, 2% of economy, the per capita gdp would be 50% higher than it is today, $90,000 versus $16,000. if you translate that into can what happens in household economy that is final. and what we do in washington is really, really important i just came back from a trip to brazil but i don't want to spend
economy had grown 1% less, our economy would've been the same size in 1990 as a that of mexi mexico. that 1% difference over that century created massive outcome difference. looking forward 10 years from now, if we go out 2% rather than 3% potential we will have have had $1 trillion worth of outcome which is about 10 -- in this economy. that's a very, very big deal. the growth alone is also not important. it's also growth that is inclusive. that is broadly shared and that's one of the things...
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Jan 17, 2013
01/13
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you have to look at every aspect and look at health care costs, growthing -- growing faster than the economy. we have to fix the social security system making promises that are bigger than which we can pay out down the road. .. but he recognizes the threat it putouts there in the economy in that you can't possibly imagine the real growth coming without a sense of stability. the with coming from knowing what these changes will be so you could have planning investments, job creation, all the necessary pieces of moving the economy forward. the big wild card is when people are going to make these tough choices instead of using them to fight in the normal political boxes. what is going to happen next? it's on a different path than i would have thought. if you think about the prospect theory which basically says when you're delivering good news you want to do it in lots of little pieces if they got a promotion than you want to tell them they got a raise and then tell them they got a bigger office. each piece of big news is good and makes people happier. if you were doing bad use and waiting for an
you have to look at every aspect and look at health care costs, growthing -- growing faster than the economy. we have to fix the social security system making promises that are bigger than which we can pay out down the road. .. but he recognizes the threat it putouts there in the economy in that you can't possibly imagine the real growth coming without a sense of stability. the with coming from knowing what these changes will be so you could have planning investments, job creation, all the...
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Jan 16, 2013
01/13
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the economy is bad enough now. we'll see how to does after the mind set takes over. >> thank you, david. thank you for coming today. thanks for your remarks. obviously, this is a global economy and financial services, especially it's important to look at it from a global perspective, and it was very useful i think for you to remind us of the comment about europeans especially lit japanese had on the folker rule. with respect to the money market and mutual funds. there's talk of european action here in the near future. i was wondering for you have any advice to our friends across the ocean as far as action or whatnot with respect to the fc correcting might be thinking in doing? >> thank you, mr. commissioner, for your question. i was in london and dublin. i don't know which jurisdiction was interested in the money market fund debate. it's a big industry in both of the locals. and, you know, in both places i was told by industry as well as high level government officials at the ec on the cusp of releasing consultatio
the economy is bad enough now. we'll see how to does after the mind set takes over. >> thank you, david. thank you for coming today. thanks for your remarks. obviously, this is a global economy and financial services, especially it's important to look at it from a global perspective, and it was very useful i think for you to remind us of the comment about europeans especially lit japanese had on the folker rule. with respect to the money market and mutual funds. there's talk of european...
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Jan 14, 2013
01/13
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economy. i also -- i spoke to you before the meeting started about the fema changes senator landrieu called me on -- [inaudible conversations] >> yeah. and the changes have been made and as i understand, we will be voting on them. >> i think there was something on the floor this evening. >> which includes bipartisan reforms to fema. >> good. >> i think it would be -- we try the appropriations on the -- i know people don't believe this to do as little authorization as possible respectfully of the authorization committee. i think it's on suspension tonight. >> i hope so. because that -- i think it's a very important part. not to watch what we see in katrina. i thank you for that. no further questions. >> thank you very much. mr. bishop? >> i don't know to whom to actually ask this question. maybe either of you or to the any of the fore floridians who happen or it here. represent hastings said there would be many for florida beaches in here. i know, there's a $4 billion category of energy and wat
economy. i also -- i spoke to you before the meeting started about the fema changes senator landrieu called me on -- [inaudible conversations] >> yeah. and the changes have been made and as i understand, we will be voting on them. >> i think there was something on the floor this evening. >> which includes bipartisan reforms to fema. >> good. >> i think it would be -- we try the appropriations on the -- i know people don't believe this to do as little authorization...
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Jan 14, 2013
01/13
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it's about the health of our neighborhoods and our economy. it's about the health of our schools, and our school children, and our communities and the health of our neighbors. mayor bloomberg, the people of new york have seen is an effective, results oriented mayor, one of the most effective results oriented mayors ever to serve new york, or dare i say, any city. creating jobs, expanding opportunity, improving city schools, launching america's largest affordable housing initiative. quite honestly, everything they do in new york and said to be the largest initiative, but i should say also largest and one of the most innovative affordable housing initiatives. and also fighting crime. really showing us that the people of new york have shown the people of baltimore that it is possible to make a safer tomorrow, that we do not have to resign ourselves to the circumstances of the way things have always been, or what we have never been able to do in the past. and, in fact, we can save lives, and each life is precious. each life is important, and if yo
it's about the health of our neighborhoods and our economy. it's about the health of our schools, and our school children, and our communities and the health of our neighbors. mayor bloomberg, the people of new york have seen is an effective, results oriented mayor, one of the most effective results oriented mayors ever to serve new york, or dare i say, any city. creating jobs, expanding opportunity, improving city schools, launching america's largest affordable housing initiative. quite...